
17 July 2024 | 19 replies
In most states Section 8 won't pay for damages.

20 July 2024 | 21 replies
The seller could go after (sue) the buyer for liquidated damages.

20 July 2024 | 5 replies
I live down the road from one of Andy Eakes rentals and he has some of the best Tenants on the block!

20 July 2024 | 8 replies
PadStats uses a proprietary socioeconomic viability score for each block group, census tract, and county in the US.

18 July 2024 | 29 replies
If you sue I think you would have to prove damages I believe.

20 July 2024 | 28 replies
Quote from @Elizabeth Block: Another bit of technology forced upon us that is detrimental to our wellbeing.

21 July 2024 | 12 replies
Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.

21 July 2024 | 54 replies
The longer you take the longer it will take.I'd rather a $1000 loss than to prolong the situation and lose the grand along with several more months of possible rent and aquiring more and more structure damage to the property.

20 July 2024 | 16 replies
One property in particular has 4 years left on abatement but the 2019 assessment is 243% higher than 2018's, and all of the other houses on the block show similar assessment increases.

19 July 2024 | 19 replies
I would give him a written notice that the smoke is damaging my rental and annoying the neighbors.